Hello Traders,
Welcome to the month of November.
I wish us all a great trading month.
Let’s hit the charts
1. EUR/USD
Before the market closed on Friday, the EUR/USD was already bearish after a pullback.
This week all attention will be on how price will react to support level 1.16204.
A breakout will further encourage the sellers to take price to the next possible support level (1.15413), and a reversal of price at 1.16204 may send price back to resistance level 1.17026
2. AUD/USD
For over a month now, price on the AUD/USD has constantly respected support level 0.70093, even though the outlook on the larger time frame is predominantly bearish.
If support level 0.70093 fails this new month, we could see price hit a new support level (0.68653).
If on the other hand price is rejected by the current support level, price could re-visit resistance level 0.70620.
3. CAD/JPY
Price on the CAD/JPY closed at a key resistance level (78.608)
If we do get a breakout this week, price next possible resistance level would be 79.075, and a reversal may send price back to 78.086
What say you?
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